Contents

Name

The name Bluefly was born from the idea that web businesses should be fast and willing to change direction. And so the‘fly’ concept was born. The color blue was used because it started with the letter "B", and at the time, the portals alphabetized their apparel departments. Not coincidentally, at the time the company was named in 1998, Bluefly itself was evolving rapidly. Its predecessor company, Pivot Rules, Inc., sold its only asset, a golf apparel company, Pivot Rules. All that was left in the public company, was cash, a few energized employees and an idea to build an online retailer of discounted designer clothing. And, true to the spirit of its name, Bluefly was built in one summer. [2]

Finance

Bluefly.com is owned by Bluefly, Inc. Bluefly is a publicly traded company (NASDAQ SmallCap: BFLY). The company had its initial public offering on May 21, 1997. In addition to its public offering, Bluefly has raised over $100 million from investors including George Soros and Peter Lynch. [3]

Lawsuits and Legal Proceedings

In October 2009, Bluefly was accused of infringing three patents owned by Charles E. Hill & Associates, Inc. in a lawsuit filed in the Eastern District of Texas.[4]